Mahindra & Mahindra to Establish Special Economic Zone for Aerospace Sector
Jul. 6 – Indian conglomerate Mahindra & Mahindra is in negotiations to establish a special economic zone (SEZ) targeting the aerospace sector industry.
The 250-acre SEZ will be located near Bangalore International Airport following a public private partnership model. M&M is not new to the aerospace industry. The company opened a component-making facility at Malur in Bangalore recently and also has two aircraft manufacturing companies in Australia.
“Mahindra Lifespaces, the infrastructure and real estate arm of the $7.1-billion Mahindra Group, is in preliminary dialogue with the Karnataka government for developing the aerospace SEZ. The company has strong experience in this kind of industrial development zones being the pioneer in the space with its Mahindra World City at Chennai and Jaipur, ” said Anita Arjundas, real estate sector CEO at Mahindra & Mahindra.
The Karnataka government is grooming its aviation sector to become one of its top industries. The state has already successfully attracted aircraft manufacturers and developers, IT companies and precision equipment manufacturers.
These include some of the country’s biggest public sector business brands like National Aerospace Laboratories, Hindustan Aeronautics Limited, Bharat Heavy Electricals Limited, Bharat Earth Movers Limited, Indian Telephone Industries, and Hindustan Machine Tools.